Prenuptial agreements may not be considered as a romantic gesture by California couples or others throughout the country. However, many experts view them as an essential document for those entering into marriage, regardless of the couple’s income level. They are certainly important to have in place should a divorce occur at some point. A recent financial advice column addresses a number of issues regarding prenuptial agreements.
One topic dealt with inherited assets and the belief that they could not be contested in a divorce. Rather than leave a decision regarding such assets to a court, it would behoove an individual to identify them in a pre-nup to protect them. Another issue raised was the desire to save money by using the same attorney when developing an agreement. It is advisable to have independent counsel, as some courts will not recognize pre-nups developed with the same attorney.
Some believe that a prenuptial agreement only provides protection to the wealthier spouse. However, an effective agreement should protect both parties. Another question addressed was the ease of invalidating a pre-nup. Experts say that it is unlikely that an agreement would be challenged, unless it is very one-sided, the parties were not independently represented, or if duress or fraud was suspected.
Finally, many believe that prenuptial agreements only deal with financial matters. However, any topic may be addressed within the agreement. In fact, many of them have a variety of lifestyle clauses that address such issues as infidelity, weight gain, overspending or social media parameters.
No one wants to think about the possibility of a divorce as they are entering marriage. However, creating a pre-nuptial agreement allows a couple to thoroughly address a variety of issues before tying the knot. A California divorce attorney can guide clients through the process and help develop an effective plan to protect their interests should a divorce occur.
Source: The Huffington Post, “Test Your Pre-Nup IQ“, Ann Margaret Corrozza, Oct. 25, 2017